28A: Your Exit
Strategy
1.
My exit strategy is to stay in the market for as
long as I can make a good profit, and then when I see the competition begin to
pick up, get out and sell it to the highest bidder. I only plan to stay in the market
for about 5 years. I believe after that technology will get way over my head
and I won’t be able to keep up.
2.
I have selected this exit strategy for my
venture because I don’t expect to be making tons of money off of this idea to
an extended period of time. It isn’t really a product that will change exponentially.
There will probably be another product that comes along and takes its place.
3.
I think my exit strategy has affected my other decisions
in the company because I am only planned and accommodating to a certain
timeline. The timeline is limited to many different factors affecting my business.
It has influenced how I see an opportunity because now I will see the opportunity’s
timeline. It has greatly influenced my growth intensions because I don’t plan
to grow a whole lot anymore. I have seen where this product can go wrong and I
don’t think it will have that much time in the market. So as you can see this
is a product that has potential in the market but it is also a product with a
limited time in the market. So I need to be conscious about the limited window
I have to sell it.
Mary, I think that your exit strategy is not only smart, but also beneficial to you. I feel like it is the best way to go since you maximize profits and then you do not even have to worry about updating the product to keep up with technology. That would certainly be hard in this day and I did not even think about that. I still think that it is a good idea even for a limited time on the market.
ReplyDeleteHey Mary,
ReplyDeleteI love your exit strategy, it’s the smartest way to make money in this situation, the real question comes when you ask yourself when the right time to sell is. How are you to know if you maximized what you can do with that company? What can you do to guarantee the most for yourself? What about employees that had been with you from the beginning, do you care what they do? Will they see anything from you jumping ship?